Civeo (NYSE:CVEO) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Civeo (NYSE:CVEO) had its target price hoisted by Stifel Nicolaus from $37.00 to $42.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Stifel Nicolaus‘s target price points to a potential upside of 16.44% from the stock’s previous close.

CVEO has been the subject of a number of other research reports. Raymond James Financial lowered Civeo from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 1st. Roth Capital assumed coverage on Civeo in a research note on Thursday, October 1st. They issued a “buy” rating and a $39.00 price target for the company. Weiss Ratings upgraded shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 31st. Finally, Northland Securities began coverage on Civeo in a report on Thursday, October 1st. They set an “outperform” rating and a $42.00 target price for the company. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.50.

Civeo Trading Up 0.3%

CVEO stock opened at $36.07 on Tuesday. The company has a quick ratio of 1.81, a current ratio of 1.89 and a debt-to-equity ratio of 1.31. Civeo has a twelve month low of $20.94 and a twelve month high of $38.06. The stock has a market capitalization of $372.95 million, a price-to-earnings ratio of -57.25 and a beta of 0.71. The firm’s fifty day simple moving average is $32.31 and its two-hundred day simple moving average is $31.05.

Civeo (NYSE:CVEO) last issued its earnings results on Thursday, October 29th. The business services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.77. The business had revenue of $193.10 million for the quarter, compared to the consensus estimate of $174.05 million. Civeo had a negative net margin of 1.93% and a negative return on equity of 7.82%. As a group, analysts anticipate that Civeo will post -1.00 earnings per share for the current year.

Institutional Trading of Civeo

Large investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP acquired a new position in shares of Civeo during the 2nd quarter valued at about $217,000. Bank of New York Mellon Corp acquired a new stake in Civeo during the second quarter worth about $1,032,000. OMERS ADMINISTRATION Corp purchased a new position in Civeo during the first quarter worth about $217,000. Arrowstreet Capital Limited Partnership raised its stake in Civeo by 12.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 126,478 shares of the business services provider’s stock worth $3,347,000 after purchasing an additional 13,564 shares during the period. Finally, Sei Investments Co. boosted its holdings in Civeo by 104.2% in the 1st quarter. Sei Investments Co. now owns 71,487 shares of the business services provider’s stock valued at $1,892,000 after purchasing an additional 36,487 shares during the last quarter. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

Civeo Company Profile

Civeo Corporation is a provider of workforce accommodations and related services for the natural resources and other industries that operate in remote locations. The company develops, owns and operates workforce villages, lodges and other lodging facilities designed to house employees and contractors near work sites.

Civeo’s services include room accommodations, food services, housekeeping, facility management, logistics and transportation support. Its facilities are used by customers in sectors such as oil and gas, mining, and infrastructure development, where temporary or long-term workforce housing is needed.

Headquartered in Houston, Texas, Civeo serves customers primarily in Canada, Australia and the United States.